Archive for the 'Monthly Deadlines' Category

Last Chance To Get Your NIC Holiday!

HMRC’s NIC holiday for new businesses comes to an end on the 5th of September 2013.

The NICs holiday is available to new businesses that started up during the period from 22nd June 2010 to 5th September 2013. The NIC holiday allows businesses to withhold National Insurance Contributions of up to £5,000 per qualifying employee. If you have employees who qualified under the holiday scheme you can still inform HMRC of your PAYE overpayment with form E92 and E89. This must be done by the 5th of September 2013. You can reduce your PAYE payments to HMRC by the value of the NICs which you overpaid for qualifying employees if accepted onto the scheme.

You can only apply for the NICs holiday if your principal place of business is listed below:

  • Northern Ireland
  • Scotland
  • Wales
  • East Midlands
  • North East
  • North West
  • South West
  • West Midlands
  • Yorkshire and Humber

According to the HMRC website the types of business that may be able to apply for the holiday are:

  • a sole trader, company or partnership that begins to carry on a trade, profession or vocation
  • a property business or investment business
  • a new trading charity whether or not it is carrying out activities with a view to profit

Your business will only be considered for the holiday if it is considered to be new. If your business has changed ownership or was formerly part of another business it may fall into one of the excluded categories.

Check whether your business is considered to be new

The limits to NICs Holiday are:

  • Limit of £5,000 withheld per qualifying employee.
  • NICs holiday only applies to a maximum of 10 employees.
  • The 10 employees must be hired within maximum of 12 months from the date your business started trading or hired its first employee – whichever period is shorter, and 5 September 2013 when the scheme ends.
  • Holiday period for each qualifying employee is a maximum of 12 months after they entered your employment. All holidays end on 5th September 2013 even if the employee has been in your employment for less than the 12 months.
  • The scheme ends on the 5th September 2013, no amount due after that date can qualify to be withheld.

Link to apply online :

http://www.hmrc.gov.uk/payerti/getting-started/nics-holiday/how-to-apply.htm

November Deadlines Summary

Here are the forthcoming deadlines 1 November 2010 to 14 December 2010

Date Requirement Due at…
01 November Corporation Tax payments for financial years ended 31 January 2010  HMRC
19 November PAYE and NIC payments for the month ended 5 November 2010  HMRC
30 November VAT return quarters ended 31 October 2010 (paper returns)  HMRC
30 November CT600s for years ended 30 November  2009  HMRC
30 November Financial Statements for the year ended        28 February 2010  Companies  House
01 December Corporation Tax payments for financial years ended 28 February 2010  HMRC
 07 December  VAT return quarters ended 31 October 2010 (online submission)  HMRC

If any further clarification is required please contact us.

This post was created by Deb Bradley on behalf of the Balance Team.

October Deadline Summary

Here are the forthcoming deadlines 1 October 2010 to 14 November 2010

Date Requirement Due at…
01 October Corporation Tax payments for financial years ended 31 December 2009 HMRC
19 October PAYE and NIC payments for the month ended 5 October 2010 HMRC
31 October VAT return quarters ended 30 September 2010 HMRC
31 October CT600s for years ended 31 October  2009 HMRC
31 October Financial Statements for the year ended 31 January 2010 Companies House
31 October Paper copies of  self assessment tax returns for the year to 5 April 2010 HMRC
 01 November  Corporation Tax payments for financial years ended 31 January 2010  HMRC

If any further clarification is required please contact us.

This post was created by Deb Bradley on behalf of the Balance Team.

September Deadline Summary

Here are the forthcoming deadlines 1 September 2010 to 14 October 2010

Date Requirement Due at…
01 September Corporation Tax payments for financial years ended 30 Novemebr 2009 HMRC
19 September PAYE and NIC payments for the month ended 5 Septemebr 2010 HMRC
30 September VAT return quarters ended 31 August 2010 HMRC
30 September CT600s for years ended 30 September  2009 HMRC
30 September Financial Statements for the year ended 31 December 2009 Companies House
01 October Corporation Tax payments for financial years ended 31 December 2009 HMRC
     

If any further clarification is required please contact us.

This post was created by Deb Bradley on behalf of the Balance Team.

August Deadline Summary

Here are the forthcoming deadlines 1 August 2010 to 14 September 2010

Date Requirement Due at…
01 August Corporation Tax payments for financial years ended 31 October 2009 HMRC
19 August PAYE and NIC payments for the month ended 5 August 2010 HMRC
31 August VAT return quarters ended 31 July 2010 HMRC
31 August CT600s for years ended 31 August 2010 HMRC
31 August Financial Statements for the year ended 30 November 2009 Companies House
01 September Corporation Tax payments for financial years ended 30 November 2009 HMRC
     

If any further clarification is required please contact us.

This post was created by Deb Bradley on behalf of the Balance Team.

July Deadline Summary

Here are the forthcoming deadlines 1 July 2010 to 14 August 2010

Date Requirement Due at…
01 July Corporation Tax payments for financial years ended 3o September 2009 HMRC
06 July P11ds and P11D(b)s for the tax year ended 5 April 2010 HMRC
19 July PAYE and NIC payments for the month ended 5 July 2010, and Class 1a NIC payments for the tax year ended 5 April 2010 HMRC
31 July VAT return quarters ended 30 June 2010 HMRC
31 July CT600s for years ended 31 July 2010 HMRC
31 July Financial Statements for the year ended 31 October 2009 Companies House
01 August Corporation tax payments for financial years ended 31 October 2009 HMRC

June Deadline Summary

Here are the forthcoming deadlines 1 June 2010 to 14 July 2010

Date Requirement Due at…
01 June Corporation tax payments for financial years ended 31 August 2009 HMRC
19 June PAYE & NIC for the month ended 5 June 2010 HMRC
30 June Financial Statements for years ending 30 September 2009 Companies House
30 June VAT return quarters ended 31 May 2010 HMRC
30 June CT600s for years ended 30 June 2009 HMRC
01 July Corporation tax payments for financial years ended 30 September 2009 HMRC
06 July P11D’s for the year to 5 April 2010 HMRC

Old Time, the greatest and longest established spinner of all!....his factory is a secret place, is work is noiseless, and his hands are mutes. Charles Dickens

Any comments, let us know.

Here Are The Deadlines – Don't Panic!

Introducing a new feature….

A regular feature of our blog is to bring to you relevant forthcoming deadlines that are in place with Companies House and HM Revenue and Customs.

At the beginning of every month we will list the deadlines that are on our calender for the coming 6 weeks. 

The purpose of this is:-

  •  to help you to help us (or your own accountants) to meet the deadlines
  •  help you to meet the deadlines if you are looking after your own affairs
  • and of course, to enable everyone involved to create a plan and stick to a time table.

However you end up using these short articles over the coming months and years, just remember, if anything goes wrong, use your initiative and DON’T PANIC!

[youtube=http://www.youtube.com/watch?v=ZR6wok7g7do]




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